Activist investor Carl Icahn raised his stake in U.S. car rental company Hertz Global Holdings Inc to 10.77 percent from 8.48 percent.
The billionaire was already Hertz`s largest shareholder and in the past few months had successfully pushed for management changes and won board seats on the company.
Hertz shares rose 1.7 percent to $25.68 in trading after the bell on Tuesday.
Hertz has owned up to a string of accounting errors, originating in 2011, that will require it to restate or correct its financial results for the past three years.
Earlier this month, Icahn-backed John Tague was named as Hertz`s chief executive, fending off a challenge from Dollar Thrifty CEO Scott Thomson, who was backed by Jana Partners, the company`s second-largest shareholder.
The role had fallen vacant in September after Mark Frissora stepped down citing personal reasons, about a month after the accounting issues came to light.
Up to Tuesday`s close, Hertz`s stock had fallen 20 percent since Icahn revealed his stake in the company on Aug. 20.
